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| 2007-06-05 00:04 文章来源：www.epzbangladesh.org.bd |
| 文章类型：转载 内容分类：其它 |
Circulars on Capital Issues
RESTRICTION ON THE SIZE OF PAID-UP CAPITAL
OF PUBLIC & PRIVATE LIMITED COMPANIES
(Ministry of Finance Circular No. fNV- I /Cl-89/83, dated 22 July, 1984)
In order to facilitate investment and expedite issue of shares by companies registered under the Companies Act, 1913 and in supersession of this Ministry's Circular No. MF/Inv-I/Cl-7/77/121, dated 13 June, 1977, the Government of the People's Republic of Bangladesh have been pleased to direct that:
A. a public limited company may raise capital upto twenty lac taka without the consent of the Government;
B. a private limited company may raise capital upto fifty lac taka without the consent of the Government;
C. a private limited company may with the consent of the Government, raise their capital upto one crore taka;
D. a private limited company formed and promoted under joint venture basis with foreign organisations(s)/nationals may, with the consent of the Government, raise their capital upto two crore taka; and
E. a private limited company will have to convert themselves into a public limited company as soon as they exceed their aforesaid exemption limits. 2. The private limited companies may, however, convert themselves into public limited companies, on their own, before reaching the aforesaid limits.
EXTENSION OF LIMITS OF PAID-UP CAPITAL
(MF Circular No. Inv- I /Cf-89/83, dated 8 April, 1989)
In the last line of the article (d) of the Circular No. MF/Inv-I/Cf-89/83 issued by Investment Cell of the Ministry of Finance on 22.7.84, "two crore taka" will be substituted by "five crore taka".
NOTIFICATION ON REPATRIATION OF SALE/TRANSFER VALUE OF SHARES OF FOREIGN
NATIONALS OF PRIVATE LTD. COMPANIES
(Notification of Ministry of Industries No. SM/SN- I /N-4/89/85)
(Dated 8 July, 1990)
In order to attract foreign investment for industrial development in the private sector, the Government, in pursuance of sub-section (1) of section 8 of the Foreign Private investment (Promotion and Protection) Act, 1980 and subject to the conditions contained in sub-section 2 of the same section and in exercise of the powers conferred by section 9 of the same Act, have been pleased to declare that the following policies shall be adopted for repatriation of sale/transfer value of shares of the foreign nationals belonging to private limited companies registered under "The Companies Act 1913".
A. The sale/transfer price of the shares of foreign nationals can be determined for the purpose of repatriation in in the following manner:
Net worth
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Total number of paid up shares of the company
The price shall be determined after deduction of all liabilities (except capital and reserved capital) from the historical cost of the tangible asset as per annual accounts and auditors report.
B. All fixed and current assets except fictitious or intangible assets may be taken as tangible assets.
C. In no circumstances pen-nission shall be given for repatriation of money the amount of which shall not be more than the sale proceeds (after deduction of taxes and other expenses).
D. If the sale proceeds (after deduction of taxes and other expenses) become more than the calculated sale price, the government may grant special permission, subject to consistent and rational reasons, for repatriation of sale proceeds (after deduction of taxes and other expenses).
E. In both the cases of sale proceeds and calculated sale price, either the taxes and other expenses shall be deducted or shall have to be paid before repatriation. |
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